Streetbeat News

Dividends

FDP

Fresh Del Monte Produce announced a 25% increase in its quarterly dividend to $0.25, payable on March 29 to shareholders of record as of March 7.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:09 am

MLI

Mueller Industries has announced an increase in its quarterly dividend from $0.15 to $0.20.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 8:43 pm

M

Macy's, Inc. (NYSE:M) has announced a 5% increase in its quarterly dividend, raising it from $0.1654 to $0.1737 per share. This new dividend rate is payable on April 1, 2024, to shareholders of record as of March 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:03 pm

WCC

WESCO International, Inc. (NYSE:WCC) shares rose after announcing the sale of its Wesco Integrated Supply (WIS) business to Vallen Distribution, Inc. for $350 million. The sale includes most of WESCO's MRO integrated supply business in North America and Europe, which had annual net sales of approximately $784 million in 2023. The proceeds will be used for debt reduction and share repurchases. WESCO's long-term debt as of Dec. 31, 2023, was $5.313 billion. The sale supports WESCO's strategy to focus on areas with the strongest growth and profit potential and is expected to close in the second quarter following regulatory approval.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 5:41 pm

BKNG

Booking Holdings, Inc. (NASDAQ:BKNG) reported Q4 earnings of $32.00 per share, surpassing estimates and marking a 29.35% increase from the previous year. Sales reached $4.78 billion, also beating estimates with an 18.15% year-over-year growth. The company initiated a quarterly dividend of $8.75 per share. Analysts from RBC Capital and Wedbush maintained an Outperform rating, with raised price targets. Despite positive results and outlook, BKNG shares dropped 9.58% to $3,528.30.

Portfolio Pulse from Erica Kollmann

February 23, 2024 | 5:34 pm

BLMN

Bloomin' Brands, Inc. (NASDAQ:BLMN) shares rose after reporting Q4 adjusted earnings per share of 75 cents, surpassing the expected 69 cents, despite slightly missing revenue forecasts with $1.194 billion against $1.198 billion expected. The company announced the closure of 36 underperforming restaurants, a quarterly dividend of $0.24 per share, and a new $350 million share repurchase program. FY24 adjusted EPS is projected to be $2.51-$2.66, with 40 to 45 new restaurants expected. The first quarter's adjusted EPS forecast is $0.70-$0.75, impacted by weather affecting U.S. sales and earnings.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 5:20 pm

BLX

Banco Latinoamericano (BLX) announced a $50 million repurchase plan and increased its quarterly dividend, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:13 pm

NEM

Newmont (NYSE:NEM) plans to sell assets to reduce its $8 billion debt, following the acquisition of Newcrest. The company aims to focus on tier-one assets in favorable mining jurisdictions and expects to lower debt by $1 billion short term and achieve $100 million in free cash flow by integrating Newmont and Newcrest. Despite a 6.9% drop in gold production in 2023 and various charges, Newmont reported higher gold reserves and a commitment to dividends, with a goal to improve gold production to 6.7 million ounces by 2028.

Portfolio Pulse from Stjepan Kalinic

February 23, 2024 | 4:13 pm

ALL

Allstate has announced an increase in its quarterly dividends from $0.89 to $0.92, indicating a positive outlook on its financial health and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 3:20 pm

SBFG

TBNK

SB Finl Gr (NASDAQ:SBFG) is maintaining its dividend payout of $0.14 per share, with an annualized yield of 3.59%, despite a decrease in earnings from $1.97 in 2020 to $1.68 in 2023. The company's dividend per share has seen an upward trend from $0.38 in 2020 to $0.52 in 2023, indicating a commitment to shareholder value. Territorial Bancorp (NASDAQ:TBNK) is mentioned as having the highest annualized dividend yield among peers at 6.18%.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 3:05 pm